"The Czech billionaire Daniel Kretinsky is to become one of the largest shareholders in TotalEnergies after selling a stake in his electricity generation business, which includes several UK power plants, to the French oil company. Kretinsky, whose companies own stakes in Royal Mail and West Ham United football club, agreed to sell a 50% stake in his stable of European power plants to TotalEnergies for about 5.1bn ($5.9bn) in exchange for about 4.1% of Total's share capital."
"Under the TotalEnergies deal, a new 50/50 joint venture will own enough UK power stations to meet the electricity demand of more than 3m homes, including the Kilroot power plant in Northern Ireland. It will offer TotalEnergies, which is a big importer of liquefied natural gas (LNG) into Europe, a network of customers for its gas and help to expand its power trading activities across Europe."
Daniel Kretinsky has sold a 50% stake in his European electricity generation business, Energeticky a prumyslovy holding (EPH), to TotalEnergies for about 5.1bn ($5.9bn) in exchange for roughly 4.1% of Total's share capital. The transaction creates a 50/50 joint venture owning power plants across the UK, France, the Netherlands and Italy, including UK capacity sufficient for more than three million homes and the Kilroot plant in Northern Ireland. The deal gives TotalEnergies access to a network of gas customers, supports its LNG imports into Europe and strengthens its power trading activities. Kretinsky retains roles across retail and sports investments.
Read at www.theguardian.com
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